TECHNICAL ANALYSIS OF TATASTEEL 22 JAN 2016

LAST RECOMMENDATION GIVEN ON 20 JAN 2016:

IBULHSGFIN IS ON FIREEEEEEEEEEEEEE !!!!!!!!!!!!

IN BEARISH MOMENTUM : IBULHSGFIN ALMOST HIT FINAL TGT 725 MADE LOW OF 722.40
LOT SIZE: 800

TOTAL INTRA DAY PROFIT: 26000 IN JUST TWO LOT

FUTURE TIP FOR 20 JAN 2016

FUTURE:

"BUY TATASTEEL  ABOVE 235 TGT 240/245 "

"SELL TATASTEEL BELOW 232 TGT 227/222 "

DAILY CHART FOR TATASTEEL:

MARKET SUMMARY OF 20 JAN 2016

The Sensex opened at 24,195, touched an intra-day high of 24,352 and low of 23,862. It finally ended with a loss of 100 points at 23,962.The Nifty opened at 7,377 hitting a high of 7,399 and low of 7,250, before ending with a loss of 33 points at 7,277.The morning joy was very short-lived as the Indian indices, after opening with a gap-up in early trades gave away all its gains and ended with losses. The Asian markets fell sharply from day’s high. Weakening Indian currency was another major factor for decline in sentiment. Today’s decline was led by healthcare, auto, metals, FMCG and energy stocks. The mid-cap stocks also ended with marginal losses. However, small-cap stocks ended with smart gains. The IT, consumer durables, and realty stocks managed to buck the negative trend. Index is making series of lower tops since March, which suggests that it is moving in a downward sloping channel with lower trend line support placed around 7200. A break below the same will open the downside towards 7000. However, sharp corrections tend to provide choppy movement wherein index will have few days of uptick followed by few days of downtick.”